Kas continued to show signs of strength daily following a recent recovery from a year low. Posting a double-digit gain in the past hours, the price looks strong on the day but remains bearish on a short-term scale. Following last week’s bounce that brought a little suspension in selling, KAS faced rejection later in the week and marked resistance at $0.082. It resumed selling following a quick drop but the $0.072 level stood well and produced a bounce. This led to an increase and is now looking set to break higher. A surge above last week’s high should pave the way for a major recovery in the next few days. This could lead to a trend shift if the bulls commit. But as it stands, the market is under a retracement. From the look of things, the price will likely face a rejection soon. The key level to watch for that is $0.09. If this happens, we can anticipate a fresh drawdown capable of slipping the price into the $0.04 range. A significant push above the $0.1 level should signal a slight shift in the trend, and at the same time, change the market structure on the daily chart. For now, the trend is still considered bearish on the macro scale. KAS’s Key Level To Watch Source: Tradingview Aside from the minor $0.072 level that produced support this week, there’s hidden support at $0.0645, along with the main $0.0557 level. A drop off this level could send the price towards $0.044 in the future. The ongoing retracement is targeted at the $0.095 resistance. From there, we can expect a bearish move. But if the bulls take advantage of it, the price may shift slightly to $0.1143 and potentially $0.135 in no time. Key Resistance Levels: $0.095, $0.1143, $0.135 Key Support Levels: $0.072, $0.0645, $0.0557 Spot Price: $0.08 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Canary files for PENGU ETF
